Monopolistic Competition

1 year ago
Microeconomics

Monopolistic competition – Market in which firms can enter freely, each producing its own brand or version of a differentiated product.

Oligopoly – Market in which only a few firms compete with one another, and entry by new firms is impeded.

Cartel – Market in which some or all firms explicitly collude, coordinating prices and output levels to maximize joint profits.

Bijay Satyal
Dec 1, 2021
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